Thread: How to fix F1?
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Old 12 Jul 2019, 12:06 (Ref:3917151)   #1324
Casper
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Casper should be qualifying in the top 10 on the gridCasper should be qualifying in the top 10 on the grid
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Originally Posted by Richard Casto View Post
I would agree that is a good place to start. I don't know the full history, but I can envision that "F1" as a business probably has a sweet spot that would have it being much smaller (as a business) than it is today. In that it's not expected to create a "large" amount of revenue and profit for shareholders, but could still be profitable.

I would say it went sideways when Ecclestone got commercial rights and later when he solidified control with the broadcast rights. I am not saying he didn't bring improvements, but to be clear... It was about extracting money from F1 and making himself exceedingly rich. F1 was (and still is) treated like an ocean full of fish just to be pulled from the water and sold. I think we are now seeing that the ocean is not limitless.

It's much to late to fix this issue, but the goal of the business entity should not be to make large amounts of money, but rather to promote the sport. Be the glue that brings participants and fans together. If funding for teams is driven by sponsorship, then help facilitate that by getting the sponsors logos, etc. in front of as many eyeballs as possible. That the fans should not be significant direct profit centers for "F1". Sure promoters need to make money, etc. from ticket sales, but F1 itself, should not be a big business.

However F1 (via FOM) is a for profit entity that values growth and profit above all else. The goal is to squeeze everyone involved as much as possible. Efforts today is just to try to address what is looking to be a stagnant business with the goal to protect revenue.

Richard
I think a single word covers what has happened to F1 and in fact all professional sport....GREED.
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